The Corrigan Company just paid a dividend of $1 per share, and that dividend is expected to grow at a constant rate of 5% per year in the future. The company's beta is 1.1, the market risk premium is 5.5%, and the risk-free rate is 3.5%. What is the company's current stock price?[Hint: find required rate of return first and then stock price.]

Select the correct answer.

$22.88

$23.48

$23.68

$23.28

$23.08